UPDATE: Singapore stocks to watch Friday: Ascendas REIT, StarHub, Amara, Chip Eng Seng, Swiber

These are the Singapore stocks which may be in focus on Friday 5 October 2018:

Chip Eng Seng

Chip Eng Seng requested a trading halt on Friday before the market open pending the release of an announcement.

On Thursday, SGX had queried the company about potential reasons for its stock price moves, with the stock rising 5.59 percent Thursday, closing at S$0.945, after four sessions of heavy trading volume.

Ascendas REIT

Ascendas REIT said on Thursday that it had completed the acquisition of 26 logistics properties in the U.K. for an estimated purchase consideration of around 253.25 million British pounds, or around S$451.67 million.

It added that after the completion, Ascendas Management (UK), or AMUK, a wholly owned subsidiary of Ascendas Investment, will be appointed as the asset manager until 30 September 2022.

In a separate filing, Ascendas REIT’s manager said that it had used S$343.1 million of the gross proceeds S$452.1 million it raised in a private placement to partially fund the acquisition of a U.K. logistics portfolio, for debt repayment and for payment of fees related to the private placement.

StarHub

StarHub said on Thursday that it completed its deal, announced in early September, with Leone Investments, an indirect wholly owned subsidiary of Singapore state investment company Temasek Holdings, to form a joint venture cyber-security company.

The deal involved StarHub transferring 23 million shares of Accel Systems & Technologies and certain other cyber-security-related assets to Ensign InfoSecurity, or the JVCo, the filing on Thursday noted. In addition, Leone Investments transferred 801 shares of Quann World to the JVCo, it said.

Leone also assigned StarHub 52 million shares in the JVCo, or 20 percent of the issued JVCo shares, it said.

Jardine Strategic and Jardine Matheson

JMH Investments, a wholly owned subsidiary of Jardine Matheson, acquired 397,071 shares of Jardine Strategic in the market on Thursday at US$35.71 to US$36.67 each, it said in a filing to SGX after the market close on Thursday.

JMH Investments will retain the Jardine Strategic shares, it said, adding that Jardine Strategic is subject to a requirement to maintain a 15 percent free float.

Amara Holdings

Amara Holdings said on Thursday that the sales launch for its 56-unit freehold residential development 10 Evelyn, near Newton Road in prime district 11, would be on 13 October at the show suite at its commercial mall at Tanjong Pagar, 100 AM.

It will have four five-storey blocks, with a mix of one- and two-bedroom units and penthouse units with three bedgrooms, it said in the filing to SGX after the market close on Thursday.

The total site area is around 2,815 square meters, it said. The temporary occupation permit is expected by early 2020, Amara said.

Swiber Holdings

Swiber Holdings said on Thursday that its indirect wholly owned subsidiary, Aster Marine, has completed its proposed disposal of two vessels it owned, Swiber Oslo and Swiber Ada, to Swiber Marine Mexico, which is indirectly 49 percent-owned by Swiber.

Soilbuild Business Space REIT

SB REIT Management, the manager of Soilbuild Business Space REIT, said on Thursday it made unit subscriptions into four directly or indirectly held, fully owned subsidiaries.

It raised its holding in Soilbuild Business Space Holdings (SBSH) to 466,711 ordinary shares at S$1.00 a share from 1 ordinary share at S$1.00 a share before the subscription, it said in a filing to SGX after the market close on Thursday.

In Soilbuild Australia Trust, Soilbuild REIT’s holding went from 1 ordinary unit at A$1.00 to 46.53 million units at A$1.00 each, while SBSH’s holding went to 470,000 units at A$1.00 each from 1 unit at that price before the subscription, it said.

Soilbuild Australia Trust’s holding in Soilbuild Australia Sub-Trust No. 1 and Soilbuild Australia Sub-Trust No. 2  went from 1 unit at A$1.00 each for each sub-trust to 54.31 million units and 65.56 million units at A$1.00 each respectively, it said.

Addvalue Technologies

Addvalue Technologies said on Thursday that its wholly owned subsidiary, Addvalue Communications, entered a collaboration agreement with Network Innovations to market Addvalue’s iFleetONE maritime satellite communications terminal along with Addvalue’s proprietary Vessel Monitoring System (VMS).

The iFleetONE VMS has been approved by the U.S. National Marine Fisheries Service (NMFS) Office of Law Enforcement (OLE) for the equipment required of all commercial fishing vessels permitted to fish in certain U.S. Fisheries Management regions, it said.

Under the agreement, Addvalue and Canada-based Network Innovations will exclusively market the iFleetONE VMS in the U.S. and Network Innovations, which has a maritime dealer network and multiple technical support offices,, will place an initial order of 50 units immediately, it said.

Japfa

Japfa said on Thursday that it bought back 47,900 shares in the market at S$0.635 each for a total consideration, including other costs, of S$30,590.

Since the Apirl 2018 start of the buyback mandate, Japfa has bought back 477,200 shares, or 0.027 percent of the issued shares excluding treasury shares at the time the mandate began, it said in a filing to SGX after the market close on Thursday.

SunMoon Food

SunMoon Food said on Thursday that it bought back 50,000 shares in the market at S$0.05 each for a total consideration, including other costs, of S$2,544.

This article was originally published on Friday 5 October 2018 at 7:31 A.M. SGT; it has since been updated to add an item on Chip Eng Seng. 

Get the Shenton Wire morning briefing in your inbox